Gunbroker 15 minute rule

[jthrelf]

It does facilitate true market pricing, rather than who has the faster internet connection.

[TacticalSpeed]

Makes no difference for me because I lost the last 2 auctions on there by $5. Seems to always happen that way. Frustrating lol

[Walleye Hunter]

Makes no difference for me because I lost the last 2 auctions on there by $5. Seems to always happen that way. Frustrating lol

It was only $5 because you quit bidding. You really don't know how bad that other bidder wanted it. I just set my price, stick to it and I either get it or I don't.

[bogey1]

It was only $5 because you quit bidding. You really don't know how bad that other bidder wanted it. I just set my price, stick to it and I either get it or I don't.

Also depends on the beer.

[free]

Did you fall and bump your head? Do you prescribe the same for live auctions?

No. Not for going to the grocery store...since neither have anything to do with the thread topic.

[free]

gunbroker uses a bid increment based on current bid amount. id imagine many sellers want the counter bids to stay as they currently are. you get the emotional bidders that way.

Current Bid --- Bid Increment
$0.00 - $9.99 --- $.25
$10.00 - $49.99 --- $1.00
$50.00 - $99.99 --- $2.00
$100.00 - $999.99 --- $5.00
$1000.00 and up --- $25.00

Yeah, see, that's not enough. They should change those amounts to more like $2, $5, $10 and $100 respectively.

You could also treat it like poker, where the next bid (bet) has to be at least as much as the next one. So, if the action is sitting at $50 and someone bids $100, the next bid would have to be at least $100. Just stop all the fucking around. It's the fucking around that makes me avoid auctions except where necessary.

If I can get a gun I want for, say, $1000 at a dealer, I'd rather just pay $1000 at the dealer and walk out with it, then fuck around on an auction for 2 weeks trying to get it for $500 or something. Only if it is something I can't get at a dealer will I resort to an auction.

[free]

It was only $5 because you quit bidding. You really don't know how bad that other bidder wanted it. I just set my price, stick to it and I either get it or I don't.

Long story short, one day after years of searching I found the holy grail of Lego auctions (as far as I was concerned). Every vintage Space set ever made (1970s), with boxes. When I got in, bidding was at $200 or something. I placed what I thought was a high bid, and a ridiculous amount of money, at $500. My bid not hold very long. I shortly went to $750. I ended up bidding $1000, which was just fucking INSANE!! No way would I ever go up from there, and I already felt horrible about what I had done, but I REALLY wanted that auction....but I just couldn't go any higher. It my point is that I didn't bother with trying to pussy bid $10 at a time or something. My bids were $500, $750 and $1000.

The winning bid was over $2000.

I also bet I will never see a collection like that go up for auction again.

[JenniferG]

In an auction the gavel is end of bidding "SOLD" to the man with the hat. Gavel means gavel. you either bid the highest bid or you don't but I guess everyone needs a trophy too because they played.

[sbmania]

I always snipe internet auctions and I believe that often the price I pay is less than I would have paid if I had put my maximum bid in days earlier. Doing that just gives other bidders a chance to probe your bid with smaller test bids to see how high you are willing to go, and the result is that you usually pay at or near your top or lose the auction.

When an item has been sitting at $300 for days and suddenly at the last 30 seconds the bid jumps to $850 or $1000, I think sometimes people get temporarily stuck in the decision process and can't recommit mentally to the higher price. By the time they figure it out, or "discuss it with the wife", the auction is closed. That said, most auctions I participate in use a one minute snipe rule so the reaction time is considerably less than if they were allowed 15 minutes.

Auctioneers are obligated to get the most money for their consignments so I don't blame them for instituting a delay, but I like it when the delay is minimal or non-existent.

[1st8th83]

I don't like it. Personally think sellers bid up the price under and alias account. Just my opinion